Browning, Martin; Ejrnæs, Mette - Centre for Applied Microeconometrics (CAM), Økonomisk … - 2002
patterns of consumption and income with a standard optimising model. In this paper we contest that we necessarily need a … precautionary motive and we show that if we take consumption to take proper account of the number and ages of children, then … adjusted consumption does not track income. We do not infer from this that children are the sole cause of the rise in …
